Par Pacific (NYSE:PARR) Given New $17.00 Price Target at TD Cowen

Par Pacific (NYSE:PARR) had its target price lowered by research analysts at TD Cowen from $21.00 to $17.00 in a research note issued to investors on Thursday,Briefing.com Automated Import reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s target price would indicate a potential upside of 21.95% from the company’s previous close.

PARR has been the topic of a number of other reports. The Goldman Sachs Group decreased their target price on Par Pacific from $23.00 to $20.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. JPMorgan Chase & Co. decreased their price objective on Par Pacific from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Mizuho lowered shares of Par Pacific from an “outperform” rating to a “neutral” rating and cut their target price for the company from $26.00 to $22.00 in a report on Monday, December 16th. Raymond James initiated coverage on shares of Par Pacific in a research report on Friday, January 24th. They issued an “outperform” rating and a $25.00 price target on the stock. Finally, StockNews.com upgraded shares of Par Pacific from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $23.14.

Par Pacific Trading Down 9.7 %

PARR stock opened at $13.94 on Thursday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66. Par Pacific has a 1-year low of $13.74 and a 1-year high of $40.69. The business has a 50 day simple moving average of $16.69 and a two-hundred day simple moving average of $17.81. The company has a market capitalization of $779.97 million, a price-to-earnings ratio of 2.70 and a beta of 1.99.

Par Pacific (NYSE:PARR) last issued its earnings results on Tuesday, February 25th. The company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.64). The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.68 billion. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. Research analysts anticipate that Par Pacific will post 0.15 EPS for the current fiscal year.

Insider Buying and Selling at Par Pacific

In other news, Director William Pate sold 67,700 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $16.22, for a total transaction of $1,098,094.00. Following the transaction, the director now owns 524,610 shares of the company’s stock, valued at approximately $8,509,174.20. This represents a 11.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Par Pacific

Large investors have recently bought and sold shares of the business. Creative Planning lifted its position in shares of Par Pacific by 246.2% during the third quarter. Creative Planning now owns 33,014 shares of the company’s stock worth $581,000 after purchasing an additional 23,478 shares during the last quarter. Private Advisor Group LLC lifted its holdings in Par Pacific by 60.4% during the 3rd quarter. Private Advisor Group LLC now owns 21,213 shares of the company’s stock valued at $373,000 after buying an additional 7,987 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in Par Pacific by 2.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 32,145 shares of the company’s stock valued at $565,000 after buying an additional 810 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in Par Pacific by 2.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 52,804 shares of the company’s stock worth $929,000 after acquiring an additional 1,226 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in Par Pacific by 160.2% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 513,254 shares of the company’s stock worth $9,033,000 after acquiring an additional 315,967 shares in the last quarter. Hedge funds and other institutional investors own 92.15% of the company’s stock.

About Par Pacific

Par Pacific Holdings, Inc owns and operates energy and infrastructure businesses. The company operates through Refining, Retail, and Logistics segments. The Refining segment owns and operates refineries that produce gasoline, distillate, asphalt, and other products primarily for consumption in Kapolei, Hawaii, Newcastle, Wyoming, Tacoma, Washington, and Billings, Montana.